Para 13.2 Exam Fire Memory based Questions : 28 Sept 2024 Exam
As we all know, Institute of Banking Personnel Selection conducts the Para 13.2 examination every year for Assistants seeking promotion in the insurance sector. Here, we are providing the Fire Insurance questions asked in the Para 13.2 Exam 2023.
The notification for the 2024 session of the Para 13.2 Examination was released in August 2024, and the examination was conducted on 28 September 2024. Candidates can go through the Fire Insurance questions asked in the Para 13.2 Exam 2024 for better preparation and practice.
FIRE QUESTIONS- 28 Sept 2024 (Paper Level-Moderate)
1.Is fire is abandonment policy or marine or both- Marine insurance only
- Underinsurance waived 15% in BLUS
- On SCN certificate – SCN can mean different things in insurance, taxation, customs, transport, etc.
- Excl in IAR policy
- Premium refund in Floater declaration policy and minimum sum insured – Minimum Sum Insured required is ₹2 crore
- Max escalation in BSUS
- Minimum claim amount required to appoint surveyor in Fire- Rs.100000 or above
- Boiler excess
- The sum insured for large risk is –2500cr.
- What is the % of architect’s fee payable if one opts for add on cover for it?-7.5%
- Add on question SFSP spoilage material damage
- Class 2 construction resistance hrs
- Spontaneous covers in
- Architects surveyor fees in SFSP- 3% of the total claim amount
- Policy cease after 7 days from the date of fall of displacement of any building
- Curious or works art amount 10k
- Foam system used for- liquid and oil fire
- In shops rated under “non-hazardous goods” storage of hazardous goods up to _________________% of the total stock is allowed-5%
- Finished goods cost
- Expenses that change directly with the level of production or sales are known as __________-variable charges
- Gross profit addition formula – Standing charges + Net profit
- Following are the perils covered under the IAR policy- Fire loss of profit
- Terrorism cover max liability- ₹2,000 crore
- 3 Que related LOP
- Annual addition method in LOP- Adjusted Standard Turnover=Last Year Turnover+Annual Addition
- In Insurance an Escalation Clause is attached to a Fire Insurance policy.
- Sum Insured (SI) = ₹1 crore
- Escalation percentage = 24% per annum
- Loss occurs after 3 months
Calculate the Sum Insured to be considered for underinsurance calculation.
Ans.1.06cr.
27.Laghu policy cotton one bale spontaneous fire, total 50 bale was there all get loss. what is payable.
28.SFSP policy numerical loss payable for p & m. stock, p&m, buld etc given, at time loss except p&m all SI found different, Total SI was under insurance but P & M SI same.calculate claim for p & m loss.
29.Extinguisher used for gasoline , liquid fire
30.Abdonment related to option fire, marine….
31.SFSP add on surveyour fee opted max payable?
- Sookshma Stock SI 1000000 only opted, at time loss found stock 1100000 & goods held in trust 40000. stock loss 120000 & goods held Trust 40000. calculate claim payable= 1,60,000
- surveyor required for claim amount option given
- Numerical co insurance with under insurance, loss payable calculation
- LOP standing charge is 30% , tuenover 100 Lakh, after loss turnover 50 lakh, what is % of standing charge?-Standing Charges become 60% of the reduced turnover.
- Addition alterations % allowed in Laghu
- IAR exclusion related confusion options
- Mega policy SI?
Para 13.2 Mahacombo Pro Package
